Avanos Medical (NYSE:AVNS) Downgraded to Strong Sell Rating by Zacks Research

Zacks Research lowered shares of Avanos Medical (NYSE:AVNS) from a hold rating to a strong sell rating in a research report sent to investors on Thursday morning,Zacks.com reports.

Several other brokerages have also recently commented on AVNS. Wall Street Zen cut shares of Avanos Medical from a “buy” rating to a “hold” rating in a research report on Saturday, April 18th. Weiss Ratings raised shares of Avanos Medical from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, April 22nd. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, Avanos Medical has an average rating of “Sell”.

Avanos Medical Trading Up 0.1%

Shares of AVNS opened at $24.80 on Thursday. The company has a quick ratio of 1.26, a current ratio of 2.48 and a debt-to-equity ratio of 0.11. The firm’s fifty day moving average is $17.26 and its two-hundred day moving average is $14.02. Avanos Medical has a 52-week low of $9.30 and a 52-week high of $24.81. The stock has a market cap of $1.16 billion, a PE ratio of -15.40 and a beta of 1.58.

Avanos Medical (NYSE:AVNS) last announced its quarterly earnings results on Tuesday, May 5th. The company reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.16 by $0.06. The business had revenue of $182.20 million during the quarter, compared to the consensus estimate of $170.00 million. Avanos Medical had a negative net margin of 10.39% and a positive return on equity of 5.39%. The business’s revenue was up 8.8% compared to the same quarter last year. During the same quarter last year, the firm earned $0.26 EPS. Research analysts forecast that Avanos Medical will post 1.07 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Avanos Medical

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC increased its stake in shares of Avanos Medical by 132.6% during the fourth quarter. EverSource Wealth Advisors LLC now owns 2,496 shares of the company’s stock worth $28,000 after acquiring an additional 1,423 shares during the period. Versant Capital Management Inc lifted its stake in shares of Avanos Medical by 49.7% during the third quarter. Versant Capital Management Inc now owns 2,692 shares of the company’s stock valued at $31,000 after buying an additional 894 shares during the period. Russell Investments Group Ltd. raised its stake in Avanos Medical by 969.3% during the second quarter. Russell Investments Group Ltd. now owns 2,545 shares of the company’s stock worth $31,000 after purchasing an additional 2,307 shares during the period. Wexford Capital LP purchased a new position in Avanos Medical during the third quarter worth approximately $70,000. Finally, Tower Research Capital LLC TRC raised its stake in Avanos Medical by 433.0% during the second quarter. Tower Research Capital LLC TRC now owns 6,257 shares of the company’s stock worth $77,000 after purchasing an additional 5,083 shares during the period. 95.17% of the stock is owned by hedge funds and other institutional investors.

About Avanos Medical

Avanos Medical is a global medical technology company that develops and markets a broad portfolio of medical devices intended to improve patient outcomes in hospital, outpatient and post-acute care settings. The company’s products focus on three core therapy areas—pain management, enteral feeding and respiratory care—designed to help clinicians manage post-operative pain, deliver nutrition support and assist breathing for patients across a variety of acute and chronic conditions.

In its pain management segment, Avanos offers both non-opioid drug delivery systems and cryoanalgesia devices, including ambulatory infusion pumps and cooled radiofrequency ablation platforms.